Pacer Advisors Inc. Buys 6,587 Shares of ITT Inc. (NYSE:ITT)

Pacer Advisors Inc. grew its holdings in shares of ITT Inc. (NYSE:ITTFree Report) by 53.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,945 shares of the conglomerate’s stock after purchasing an additional 6,587 shares during the quarter. Pacer Advisors Inc.’s holdings in ITT were worth $2,261,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ITT. American Century Companies Inc. boosted its position in ITT by 10.5% during the first quarter. American Century Companies Inc. now owns 9,253 shares of the conglomerate’s stock worth $696,000 after purchasing an additional 878 shares during the period. Panagora Asset Management Inc. boosted its position in ITT by 9.5% during the first quarter. Panagora Asset Management Inc. now owns 16,808 shares of the conglomerate’s stock worth $1,264,000 after purchasing an additional 1,462 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in ITT by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,372 shares of the conglomerate’s stock worth $2,359,000 after purchasing an additional 2,992 shares during the period. Great West Life Assurance Co. Can boosted its position in ITT by 3.5% during the first quarter. Great West Life Assurance Co. Can now owns 76,995 shares of the conglomerate’s stock worth $5,949,000 after purchasing an additional 2,592 shares during the period. Finally, Synovus Financial Corp boosted its position in ITT by 1.2% during the first quarter. Synovus Financial Corp now owns 17,523 shares of the conglomerate’s stock worth $1,330,000 after purchasing an additional 208 shares during the period. Institutional investors own 91.59% of the company’s stock.

ITT Price Performance

Shares of ITT opened at $136.03 on Friday. The firm’s 50 day simple moving average is $126.14 and its 200 day simple moving average is $113.17. The company has a market capitalization of $11.17 billion, a P/E ratio of 27.43, a P/E/G ratio of 1.86 and a beta of 1.42. ITT Inc. has a 1-year low of $75.82 and a 1-year high of $138.29.

ITT (NYSE:ITTGet Free Report) last announced its earnings results on Thursday, February 8th. The conglomerate reported $1.34 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.34. The business had revenue of $829.10 million for the quarter, compared to the consensus estimate of $814.38 million. ITT had a net margin of 12.50% and a return on equity of 17.91%. ITT’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period last year, the firm posted $1.29 earnings per share. On average, equities analysts anticipate that ITT Inc. will post 5.79 earnings per share for the current year.

ITT Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be given a dividend of $0.319 per share. This is a boost from ITT’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, March 7th. ITT’s dividend payout ratio (DPR) is presently 25.81%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Citigroup increased their target price on shares of ITT from $122.00 to $134.00 and gave the stock a “buy” rating in a research report on Monday, December 11th. Stifel Nicolaus increased their price target on shares of ITT from $122.00 to $131.00 and gave the stock a “buy” rating in a report on Tuesday, December 19th. DA Davidson increased their price target on shares of ITT from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, March 26th. Finally, StockNews.com downgraded shares of ITT from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 6th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, ITT presently has an average rating of “Buy” and an average target price of $124.57.

View Our Latest Report on ITT

ITT Company Profile

(Free Report)

ITT Inc, together with its subsidiaries, manufactures and sells engineered critical components and customized technology solutions for the transportation, industrial, and energy markets in the United States and internationally. The Motion Technologies segment manufactures brake pads, shims, shock absorbers, and energy absorption components; and sealing technologies primarily for the transportation industry, including passenger cars, trucks, light- and heavy-duty commercial and military vehicles, buses, and trains.

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Institutional Ownership by Quarter for ITT (NYSE:ITT)

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